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Lundh’s chemical coup
Swedish shipbroker races to cash in on management of small Turkish chemical tankers built on spec during the market boom.
Safe slates two in China
Safe Bulkers has penned two kamsarmax newbuildings in China less than a month after raising nearly $80m from shareholders.
Polys Hajioannou.
Polys Hajioannou-headed Safe will pay $32.2m each for the 82,000-dwt ships.
Loukas Barmparis, president of Safe Bulkers, told TradeWinds: “Everything can go up or down, but we feel safe at this level acquiring newbuild vessels.”
Safe will take delivery of the ships in the fourth quarter of 2011 and the first quarter of 2012.
Barmparis could not be drawn on which yard will build the vessels, which take the New York-listed owner’s fleet to 21 ships.
According to Clarksons, Safe has nine newbuildings on its books.
The figure comprises two capesizes at Rongsheng, five post-panamaxes at Imabari and a pair of 80,000-dwt ships at STX.
Barmparis hints further orders could be in the pipeline. “We did this offering to be able to take advantage of good opportunities,” he said.
“We are able to expand even further. We have not spent everything.”
Latest News
RLOG on the up
Great Lakes bulker specialist predicts another profitable year as expanded fleet lifts bottom line.
Full circle for finance man
Investment banker Kevin O'Hara has rejoined New York boutique firm AMA Capital Partners after seven years.
Iran facing shipping squeeze
Trade dwindling as Maersk and Hapag-Lloyd among those pulling out due to US and EU sanctions.
Strike three for Saverys
Shipowner Marc Saverys continues to sell off stock in shipbroker Clarksons.
DSX plays down Daelim drama
Cargill steps in as South Korean charterer coughs up cash to cover early return of bulker to US-listed owner.
Tough end for ASL Marine
Singapore-listed offshore company sees revenue and earnings sliced by a quarter in the final period of 2011.
Dividend chop just the start
Axing of shareholder payouts at OSG may need to be accompanied by asset sales, analyst says.
Peel plots post-panamax port
Port of Liverpool owner ready to spend £250m on new containership facility at Seaforth.
Seabird swoops on contract
Oslo-listed seismic outfit eases financial troubles with award of $13m deal.
GE earnings cut
Weaker bulker markets in third quarter sees Indian owner's profit chopped, but tankers improve.
BLT has some backing
Creditors are being supportive of Indonesian owner’s restructuring efforts, says Kevin Wong.
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